By Greg Roumeliotis and David French
(Reuters) – CoreSite Realty Corp, a U.S. data center operator with a market value of more than $8 billion, is working with an investment bank to explore its options after attracting acquisition interest, people familiar with the matter said.
CoreSite has been approached by companies that include American Tower Corp and Digital Realty Trust Corp, as well as private equity firms, the sources said. There is no certainty that CoreSite will successfully negotiate a deal with any party, the sources added.
The sources requested anonymity because the matter is confidential. CoreSite and American Tower did not immediately respond to requests for comment. Digital Realty declined to comment.
Based in Denver, CoreSite has more than 25 operating data center facilities in North America, leasing out space to companies that outsource some of their computing power. It started off as a company of private equity firm Carlyle Group Inc and became publicly listed a decade ago.
CoreSite shares are up 28% year-to-date, outperforming the benchmark U.S. S&P 500 Index, as remote working during the COVID-19 pandemic fueled demand for more processing power and data storage in corporate networks.
(Reporting by Greg Roumeliotis and David French in New York; Editing by Bernadette Baum)